Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Down 6.1% – Should You Sell?

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) shares dropped 6.1% during trading on Thursday . The company traded as low as $18.78 and last traded at $18.78. Approximately 135,496 shares traded hands during trading, a decline of 71% from the average daily volume of 473,141 shares. The stock had previously closed at $20.00.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARCT. Leerink Partnrs raised Arcturus Therapeutics to a “strong-buy” rating in a research report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $63.00 target price on shares of Arcturus Therapeutics in a research note on Tuesday, October 1st. Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, September 9th. Finally, Leerink Partners assumed coverage on Arcturus Therapeutics in a research note on Monday, August 12th. They issued an “outperform” rating and a $70.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $71.40.

Arcturus Therapeutics Trading Down 5.7 %

The business’s fifty day simple moving average is $21.21 and its 200-day simple moving average is $25.13. The firm has a market cap of $507.67 million, a P/E ratio of -5.12 and a beta of 2.61.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Monday, August 5th. The biotechnology company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($1.85) by $1.21. Arcturus Therapeutics had a negative return on equity of 25.47% and a negative net margin of 41.21%. The business had revenue of $49.86 million during the quarter, compared to the consensus estimate of $21.00 million. During the same quarter last year, the company earned ($1.98) EPS. As a group, research analysts expect that Arcturus Therapeutics Holdings Inc. will post -2.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Pad Chivukula sold 12,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total value of $249,120.00. Following the transaction, the chief operating officer now owns 435,334 shares of the company’s stock, valued at approximately $9,037,533.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Arcturus Therapeutics

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in Arcturus Therapeutics during the first quarter valued at about $40,000. nVerses Capital LLC purchased a new stake in Arcturus Therapeutics in the third quarter worth approximately $42,000. Quest Partners LLC boosted its stake in Arcturus Therapeutics by 3,283.5% in the second quarter. Quest Partners LLC now owns 3,688 shares of the biotechnology company’s stock worth $90,000 after buying an additional 3,579 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Arcturus Therapeutics during the second quarter worth approximately $142,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Arcturus Therapeutics by 10.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,492 shares of the biotechnology company’s stock worth $152,000 after acquiring an additional 428 shares during the last quarter. Institutional investors own 94.54% of the company’s stock.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc, a late-stage clinical messenger RNA medicines and vaccine company, focuses on the development of infectious disease vaccines and other products within liver and respiratory rare diseases. Its technology platforms include LUNAR lipid-mediated delivery and STARR mRNA.